My ironic suggestion for cognitive dissonance in two New York Times articles was hosted in yesterday’s Best of the Web Today (print edition today) – a daily column on the Wall Street Journal’s Opinion Page.
I recently purchased my first house here in the Bay Area, and I did it in a decidedly non-traditional way. For a few years I had been reading about a smaller real estate company known as Redfin which operated in a more hands-off way than a normal real estate firm. Redfin leverages technology and a slick user interface to help its users (most of which will not use Redfin to buy a home, but the search feature is that good) find homes on their own. Once a house is purchased, Redfin actually refunds some of the brokerage commission. In most places, 3% of the purchase prices goes to the seller’s agent, 3% to the buyers, and 1.5%, 50% of Redfin’s commission, goes back to the end user. So… what’s the catch?
There is a German word which perfectly describes a feeling we often get… in English-Speaking America. ”Schadenfreude” means to derive pleasure from the misfortune of others. Generally, when schadenfreude appears in print, it refers to the failings of a high powered sports team, such as the New York Yankees or (not this year!) the Los Angeles Lakers. These teams are historically so good (note I left out my favorites, the Boston teams, although they could certainly apply) that other sports fans will cheer for two things – their team to win, and team X to lose! On that note, today I bring you a link which will most likely make you happy – and the ‘team’ is Bank of America.
Ahh, the free market. Like ‘freedom’, ‘family’, ‘patriotism’ and other such words, the phrase ‘free market’ means different things to different people. Yes, a free market, one unencumbered by the price fixing of governments, has different meanings around the world. GlobeScan took the liberty of actually running the poll – asking numerous people in a small selection of countries whether or not they trust the free market. The results are,as you might expect, somewhat surprising. China has more trust in the free market than the United States (they have more respondents who say they ‘strongly’ or ‘somewhat’ think the Free Market is the best Economic system).
Posted By PK Last updated February 24th, 2011 1 Comment
Wow, a new leaf has been turned over! We here at DQYDJ submitted articles to carnivals 2 weeks in a row! This week, go check out the 297th edition of the Personal Finance Carnival at Money Smart Life. There you’ll see Cameron’s article “Skill Based Inequality Due to Technology” in the Economics section